The top rental markets in Florida are Miami, Orlando, Jacksonville, Miami Beach, Tampa, Tallahassee, Fort Lauderdale, Altamonte Springs, and Saint Petersburg.
The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.
Florida Rental Trends:
Florida is the third largest state by population and one of the fastest growing states in the United States. With popular and successful industries such as tourism, aerospace, and agriculture, jobs aren’t slowing down and there is a city for every renter and landlord. Here are some highlights from the top rental markets in the Sunshine State:
Days on Market:
The city with the lowest number of days on market is Altamonte Springs at only 12 days which is close to the national average at around 15 days; Fort Lauderdale holds the highest number of days on market at only 35 days.
Leads:
The top three towns for the largest amount of leads per listing all surpass the national average of 38. Here they are:
- Jacksonville – 58 leads per listing
- Tampa – 51 leads per listing
- Orlando – 48 leads per listing
Average Rent: (2 bedroom listings)
With the national average rent at $1,207 for a two-bedroom, Tallahassee comes below that with the lowest average rent of $874 for a two-bedroom compared to the highest rent in Florida at $2,477 in Miami Beach.
Median Home Sale Price:
According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,400. Florida’s highest median sale price comes above that at $374,000 in Miami Beach with its lowest median sale price far lower than the national average at $191,000 in Tallahassee.
Median Income:
Florida’s median income rings in at $44,790 – a little under the national average at $48,500.
Security Deposit Trends:
Security deposits have both risen and fallen in Florida cities between 2018 and 2019. With the largest being an increase of 100% in Miami Beach at $3,200, and the largest decrease in Altamonte Springs at -20.40% with the current average at around $995 – below the national average for security deposits which is around $1,200.
Livability Score:
All of the Florida cities had a livability score 65 or higher with the highest being Altamonte Springs at 83 and Tampa at 77!
Please visit here for our full methodology.
Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.
